ESMA has told several Bond CTP providers hopefuls that they have been invited to participate in the second step of competitive procedure with negotiation.
The Desk has confirmed that several Consolidated Tape Provider (CTP) hopefuls have been invited by ESMA to the next stage of its competitive selection process. The second phase will now see shortlisted candidates engage in negotiation to further demonstrate their capabilities in delivering what ESMA describes as a transformative service.
Etrading Software’s COO, James Haskell told The Desk: “I am delighted to confirm ESMA has invited Etrading Software (ETS) to participate in the second stage of their Bond CTP Selection and Award process. We are very much looking forward to having the opportunity to present our solution – ETS Connect – for this important and transformative service.”
Propellant Digital’s Vincent Greanjean indicated that Bondtape has also been selected. He passed on comments from Neil Ryan, CEO at Bondtape, regarding the firm’s competitive edge.
Ryan stated: “We are very happy to progress as the tenders in the EU and UK accelerate and the reality of bond consolidated tapes comes clearly into view for the market as a whole. This year will see a lot of changes in market infrastructure and we believe our combined expertise will ensure delivery of reasonably priced, high quality bond tapes.”
He added further: “The key difference between Bondtape and its competitors is that we already have the experience of delivering production-quality, consolidated market data to banks, asset managers, hedge funds, trading venues, and academics. Having these subscribers is the validation that Bondtape knows what’s needed for a consolidated tape and how to deliver it.”
A spokesperson for TransFICC said: “We don’t think that it is appropriate to comment on this ongoing process.”
FairCT also declined to comment further on an ongoing process.
ESMA was reached for comment.
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